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Economics Past Questions

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386

Which of the following is used by the Central Bank to control the rate of interest?

  • A. Bill of Exchange
  • B. Banker's order
  • C. Fixed deposit account
  • D. Open market operation
View Answer & Discuss (6) JAMB 1986
387
Gresham's law in economics shows that
  • A. bad money drives good money out of circulation
  • B. good money drives bad money out of circulation
  • C. gold must be available to maintain the value of paper money
  • D. the price level varies directly with the quality of money
View Answer & Discuss (3) JAMB 1986
388
Given that the cash reserve ratio is 10 percent, what is the maximum amount of that the banking system can create from an initial cash deposit of N1,000.00?
  • A. N100.00
  • B. N1,000.00
  • C. N9,000.00
  • D. N10,000.00
View Answer & Discuss (3) JAMB 1986
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389
The most important economic characteristic differentiating commercial banks from other financial institutions is their?
  • A. function as a safe and profitable store place for savings
  • B. role in financing balance of payment deficits
  • C. status as an intermediary between savers and borrowers
  • D. ability to create and destory money
View Answer & Discuss (3) JAMB 1986
390
Deflation is a persistent fall in the general price level and is usually caused by?
  • A. a reduction in total demand
  • B. an increase in government spending
  • C. an increase in the money supply
  • D. an increase in aggregate demand
View Answer & Discuss JAMB 1986
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